Julius Baer Bank believes Kazakhstan promising country for investment with successfully developing economy
Talking about the global trends Johan Willem Aket, the Chief economist and managing Director of Julius Baer Bank, said: "The volume of the world trade has decreased. The so-called seven-year cycle of growth and decline is violated now. In the past two years there was recorded a sharp jump in the economies of several countries and therefore there is no guarantee that there will be a new recession". According to him the instability in Europe entails low investor interest in the stock market: stock market players got tired of uncertainty.
In his view the global economy remains fragile: "Stagnation in the EU will be extending. Concern has been given by weakening position of France and Italy from new setbacks in the fight against the debt crisis. However, in Europe there are “islands” of positive growth. Germany has successfully operated during the crisis and Switzerland is coping with the crisis consequences. The developing countries began to acquire more and more weight in the world economy", said Johan Willem Aket.
Among the above mentioned countries the Swiss bankers attributed Kazakhstan noting that it has been developing steadily and is interesting in terms of investment. Our Republic is among the countries of Asia with a projected gross domestic product (GDP) growth from 2 to 7%.
According to the forecast of the Swiss, Kazakhstan expects economic growth in 2013-2014. But the U.S. and Europe economy will continue to decline. The report also gives a warning of the so-called "economic miracle" of China which borders with Kazakhstan. The anti-crisis pumping money into the economy gave only short-term effect and now the economic growth of the country slowed down.
"Julius Baer Bank analytical department is one of the most powerful in the world, quoted by Bloomberg and other financial agencies. They submit us the best analytics and surveys on global trends are of great interest for us and our customers", said Ayaz Bakasov, the deputy Chairman of the Eurasian Bank.
Julius Baer Bank is a leading private bank with its headquarters in Zurich. It was established in 1817 by the Baer family. The bank is a part of the Julius Baer Group - banking group which specializes in serving and advising wealthy private clients and has assets under management accounting to 250 billion U.S. dollars.